The $409,880 Ferrari Calfornia T is the brand's most affordable car in almost 10 years.

Exclusive Italian sports car maker Ferrari has a likely new best seller – the California T.

Priced from $409,880 the California T is the most affordable model from Ferrari in almost a decade, when the 360 Modena was discontinued in 2005 priced from $369,500.

The circa $50,000 price reduction over the California it replaced – the California T gets a new body a new twin turbocharged engine – will be enough to make it the most popular model from the brand, according to Ferrari Australasia president and CEO Herbert Appleroth.

The $409,880 Ferrari Calfornia T is the brand's most affordable car in almost 10 years.

“There’s a good chance it will be the biggest selling Ferrari ever,” said Appleroth. “Already the popularity is overwhelming.”

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He said by the end of June he expected a 12 month waiting list on the California T, with the model expected to boost Ferrari sales; so far this year the brand’s sales are down 26 per cent but the arrival of the California T is planned to boost full-year sales up by 10 per cent.

Appleroth describes the California T as the most “everyday” Ferrari ever produced, something that boosts its appeal because it is the “right car for the right time ... it’s not ostentatious, it’s stylish, it’s ergonomically functional...”

Ferrari California T

Ferrari California T.

Powered by a 3.9-litre twin-turbo V8, the new Ferrari California T produces 412kW of power, which is significantly up on the 338kW of the 4.3-litre non-turbo V8 California it replaces. But it’s the jump in torque – a 56 per cent jump from 485Nm to 755Nm – thanks to the turbochargers that promise the most marked improvements to everyday driving.

All that power is fed through a seven-speed twin clutch automatic gearbox.

And, being a Ferrari, performance is high on the agenda, with the folding hard-top four-seater claimed to blast to 100km/h in just 3.6 seconds on the way to a top speed of 316km/h.

Appleroth also says the new California T will likely appeal to more men – Ferrari’s traditional buyer base – increasing its sales.

But it’s the price most likely to pop the Ferrari California T on the shopping lists of local buyers.

“We had an opportunity with foreign exchange ... and the car has been repositioned,” said Appleroth. “Instead of creating value in higher spec we’ve been able to position the car at a more affordable price level.”

But Appleroth ruled out price reductions on other Ferraris for now, instead suggesting they could happen when a new model arrives.

Appleroth says 85 per cent of Ferrari owners go on to buy another Ferrari, which is one of the highest loyalty rates in the industry.

The previous California achieved a 70 per cent conquest rate, something Appleroth expects to continue with the California T.

He said California buyers tended to hang on to their cars longer than some other Ferrari models.

“Ownership time of a California seems to be a lot longer than other Ferraris,” said Appleroth. “It‘s an everyday Ferrari so they keep it and hang on to it a little bit longer.”

Ferrari manages its waiting lists and demand carefully.

The brand recently pulled annual production back to 7000 units – about 100 of which are sold in Australia – in order to ensure exclusivity.

Ferrari has long said it builds one less car than the market demands.

Ferrari California T pricing and specifications

Price: $409,880

Engine: 3.9-litre V8 twin turbo

Power: 412kW at 7500rpm

Torque: 755Nm at 4750rpm

Transmission: 7-speed twin clutch automatic

0-100km/h: 3.6 seconds

Top speed: 316km/h

8 comments so far

Shudder to think where they made their cost savings. Perhaps they finally phased out whatever skeletal quality control system they had in place?

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Draft

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Date and time

June 19, 2014, 12:11PM

Not sure I like the lemon sucking grille and front end?

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Glove Puppet

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Left Field

Date and time

June 19, 2014, 1:36PM

Yep. I'll just pull $410K out of my clacker. Can I please have a white one ??

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simof6

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June 19, 2014, 6:02PM

The price in US is only $189K. Are we expecting this to be made out of gold for Australia?

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ABC

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Date and time

June 20, 2014, 8:02AM

What advantages does this automobile have over, say, a train, which I could also easily afford?

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r32gojirra

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Date and time

June 20, 2014, 2:26PM

Buy one and Italy is back in the black.

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Big joes

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Budget budget

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June 20, 2014, 3:48PM

It could self immolate

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XU1

Location

Adelaide

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June 20, 2014, 5:27PM

Strange design finish at rear , not elegant with all the angles and round tail lights that look out of character for the design. Interesting that the importers admit the cars are over priced to take advantage of new model and price reduction.at same time whilst still maintaining some $100k margin in themStrange marketing philosophy to limit cars to produce a fixed annual profit, only an accountant could come up with that as if they were more affordable ie less overpriced, then they would make more on parts and service, after all where else could you take it, realistically,to maintain provenance